Thomson Reuters

This article was originally published in the Fintech Law Report.

Authors: Ariana Goodell Paul R. Gupta

While cyber attacks have become increasingly common and damaging, there is a growing awareness that corporate boards have not prioritized the prevention and mitigation of those attacks.

Ever since 2005, when some of the first major data breaches were reported, cyber attacks have been exponentially increasing the dangers to companies’ operations, profits and stock values, as well as their reputations. By 2015, the total number of detected security incidents climbed to over 50 million.

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